EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Three Months Ended ------------------- July 30, July 31, 1997 1996 ---- ---- FY 1998 FY 1997 Primary income per share: Net income............................................... $ 243,301 $ 179,530 Preferred dividends...................................... 10 11 --------- --------- Net income applicable to common stock.................... $ 243,291 $ 179,519 ========= ========= Average common shares outstanding and common stock equivalents............................................. 374,325 376,578 ========= ========= Net income per share--primary............................ $ .65 $ .48 ========= ========= Fully diluted income per share: Net income............................................... $ 243,301 $ 179,530 ========= ========= Average common shares outstanding and common stock equivalents............................................. 374,325 376,578 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock.... 319 359 Additional common shares assuming options were exercised at the period-end market price......................... 758 548 --------- --------- Average common shares outstanding and common stock equivalents............................................. 375,402 377,485 ========= ========= Net income per share--fully diluted..................... $ .65 $ .48 ========= ========= All amounts in thousands except per share amounts. ------------